New Zealand Q3 CPI rose 3.7% YoY, down from 4.1% in Q2 and below economists'
3.8% forecast; CPI was up 0.7% MoM versus a 0.8% estimate, Statistics New
Zealand said. A retreat in fuel prices eased inflationary pressure and the NZD
slipped after the print. The moderation provides the ruling National Party a
brief reprieve ahead of the Nov. 7 election, but some economists warn the relief
may be fleeting, expecting Q4 YoY CPI to exceed 4.5% as Middle East tensions and
recent sharp fuel cost rises push energy prices higher.
